Both clubs had been in talks for the past week before finally reaching an agreement on Sunday evening.

AS reports that Monaco will receive a fee close to 80 million euros for the Colombia international and that only a few minor details need to be resolved to conclude the deal and whether a Madrid player will be included.

PLAYERS TO MOVE CLUBS AFTER WINNING GOLDEN BOOT

2014: James Rodriguez (Colombia) - Monaco to Real Madrid

2002: Ronaldo (Brazil) - Inter Milan to Real Madrid

1994: Oleg Salenko (Russia) - Logroñés to Valencia

1986: Gary Lineker (England) - Everton to Barcelona

1930: Guillermo Stábile (Argentina) - Huracán to Genoa

Monaco are keen on Diego Lopez -- though the goalkeeper insists he wants to stay at the Bernabeu. German tabloid Bild reports that Germany midfielder Sami Khedira, who has just one year remaining on his Real contract, could be used as a makeweight in the deal.

Club president Florentino Perez and director general Jose Angel Sanchez will have to delay their trip to Los Angeles, where the first-team squad are due to land on Monday for their preseason tour.

AS reports that James refused to say anything about his move to Madrid when he was asked by reporters at Madrid's Barajas airport on Sunday.

The player was in the Spanish capital to take a connecting flight to Nice, France. But the news was later confirmed by his agent, Jorge Mendes.

At the Bernabeu, everything is in place for the unveiling: the president's suite has been ready since last Thursday, when new signing Toni Kroos was presented. There is even a plaque bearing his name on his future room, No.110, at the players' residence in Valdebebas.